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REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Nov 17 (Reuters) - British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home, official data showed on Friday in a new warning sign for the economy. Retail sales volumes dropped 0.3% month-on-month, following a revised 1.1% decline in September that was worse than first estimated, the Office for National Statistics said. Economists polled by Reuters had forecast that sales volumes would rise by 0.3% on the month in October. Overall the figures fitted with the darkening outlook for Britain's economy, with economic growth stagnant and strong price pressures now fading, albeit slowly. The figures also showed a small downward revision in retail sales for the third quarter.
Persons: Phil Noble, Spencer, James Davey, William James Our Organizations: Shoppers, REUTERS, National Statistics, Reuters, Investors, Bank of England, Retailers, Britain, Tesco, Thomson Locations: Altrincham, Britain
DUBAI, United Arab Emirates — Amid the bustle and footfall of thousands of visitors and exhibitors at the 2023 Dubai Airshow, one pavilion is notably empty: that of Israel. Two years later, and one month into Israel's war against Hamas in the Gaza Strip, the scene is unrecognizable. On the show's first day, the IAI pavilion was surrounded by a red cordon, which was removed by the second day. IAI and Elbit Systems did not reply to an emailed CNBC request for comment. CNBC contacted two representatives of Israeli defense firms that attended the airshow in 2021; they said they did not attend this year's show because they had been drafted into the country's military.
Persons: Abraham, Emiratis, Rafael, SIBAT Organizations: United Arab Emirates, Abraham Accords, United Arab, Hamas, Israel Aerospace Industries, Elbit Systems, Rafael Advanced Defense Systems Ltd, IAI, CNBC, Israel's International Defense Cooperation Directorate, Defense Locations: DUBAI, United Arab, Dubai, Israel, United Arab Emirates, Gulf, Gaza
[1/2] The Burger King company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. REUTERS/Benoit Tessier Acquire Licensing RightsNov 3 (Reuters) - Restaurant Brands International (QSR.TO) missed market estimates for quarterly sales on Friday as lingering inflation pinched spending at its Burger King chain, eclipsing higher demand for Tim Hortons coffees and Popeyes chicken wings. Shares of the Canada-based company fell 4%, as executives said Burger King would increase advertising and store investments under an ongoing turnaround plan, setting it up for higher costs in the current quarter. Burger King has "made a lot of progress ... but there's still a very long way from where we are to where we want to be. Total revenue at Restaurant Brands rose to $1.84 billion, but missed estimates of $1.87 billion.
Persons: Benoit Tessier, Tim Hortons, Burger, Sante Faustini III, Burger King, Josh Kobza, Footfall, there's, Kobza, Deborah Sophia, Devika Organizations: Burger King, REUTERS, Brands, Reuters, Restaurant Brands, Thomson Locations: Bretigny, Paris, France, Canada, U.S, Burger, Bengaluru
[1/3] The McDonald's company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. Global comparable sales at McDonald's jumped 8.8% in the quarter ended Sept. 30, while analysts on average expected a 7.36% rise, according to LSEG data. While overall dining traffic fell in all three months of the quarter, McDonald's saw a 7.3% jump in July, data from Placer.ai showed. U.S. comparable sales climbed 8.1% in the quarter, beating estimates of a 7.4% increase, thanks also to higher average spending at stores. Meanwhile, same-store sales in McDonald's international operated markets increased 8.3%, edging past expectations for 8.03% growth.
Persons: Benoit Tessier, McDonald's, Deborah Sophia, Sriraj Organizations: REUTERS, McDonald's, UBS, Thomson Locations: Bretigny, Paris, France, Placer.ai, U.S, Bengaluru
Investors' knee-jerk reaction to those comments sent the under-pressure S&P 500 restaurants index (.SPLRCREST) down 1.3% at the time. THE FUNDAMENTALS** On Thursday, Chipotle is expected to report a 4.5% increase in Q3 same-store sales, according to LSEG data, slower both on a year-over-year and a sequential basis. Profit likely rose about 18%. WALL STREET SENTIMENT** The S&P 500 restaurant sub-index (.SPLRCREST) has risen just 0.4% year-to-date, lagging a more than 10% jump in the benchmark S&P 500 (.SPX). Growth in top restaurant stocks has broadly lagged the benchmark S&P 500 indexReporting by Deborah Sophia in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Peter Saleh, Taco Bell, Wells, Chipotle, Deborah Sophia, Savio D'Souza Organizations: REUTERS, KFC, Yum Brands, Walmart, Conagra, Taco, WALL, Thomson Locations: New York, McDonald's, Wells Fargo, Bengaluru
[1/3] People are served in a Chipotle outlet in Manhattan, New York City, U.S., February 7, 2022. Chipotle said it has not seen any material impact from weight-loss drugs. While consumers taking weight-loss treatments consume fewer calories, "it's important the calories they do consume are coming from clean food. Chipotle forecast fourth-quarter comparable sales growth in the mid- to high-single-digit range, compared with estimates of a 5.38% rise. Reporting by Deborah Sophia in Bengaluru; Editing by Krishna Chandra Eluri and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Andrew Kelly, Brian Niccol, Chipotle, Sante Faustini III, we're, Niccol, Deborah Sophia, Krishna Chandra Eluri Organizations: REUTERS, Thomson Locations: Manhattan , New York City, U.S, California, Bengaluru
Disneyland, Disney World lift some park ticket prices
  + stars: | 2023-10-11 | by ( ) www.reuters.com   time to read: +2 min
A Spider Bot is pictured on a backpack ahead of the opening of the Avengers Campus area at Disney California Adventure Park in Anaheim, California, U.S., June 1, 2021. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsOct 11 (Reuters) - Walt Disney Co (DIS.N) said on Wednesday it is raising some theme-park ticket prices for its Disneyland resort in California and Walt Disney World in Florida, weeks after the entertainment giant unveiled a hefty spending plan for its parks business. The company has hiked prices at Disneyland by up to 8.9%, with the price per ticket on busy days such as holidays increasing by 8.4% to $194. Yearly pass prices at Walt Disney World in Orlando are rising by up to 10%, with the most expensive Incredi-Pass now selling for $1,449, up $50. Earlier this month, Disney said it will offer discounts on ticket prices for children at its theme parks for a limited period as it looks to spur traffic.
Persons: Mario Anzuoni, Disney, hasn't, Chavi Mehta, Devika Organizations: Disney, REUTERS, Walt Disney Co, Walt Disney, Thomson Locations: Anaheim , California, U.S, California, Florida, Orlando, United States, Bengaluru
Disney to offer discounts on children's tickets at theme parks
  + stars: | 2023-10-04 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Brendan McDermid//File Photo Acquire Licensing RightsOct 4 (Reuters) - Walt Disney (DIS.N) said on Wednesday it will offer discounts on ticket prices for children at its theme parks for a limited period as it looks to boost traffic. Disney CEO Bob Iger said in August during the third-quarter earnings conference call that the California-based company had seen "softer performance" at Walt Disney World, a part of its parks business, in Orlando. Although, Iger described the parks as "a tremendous business" and said Walt Disney World was still performing well above pre-pandemic levels. The company last month said it would nearly double its capital expenditure for its parks business to about $60 billion over the next 10 years. Walt Disney World will also introduce a package offer on Nov. 14 for families with discounted children's tickets for theme parks and dining plans, which can be used from March 3 through June 30 next year.
Persons: Brendan McDermid, Walt Disney, Bob Iger, Iger, Walt, Akash Sriram, Samrhitha, Shinjini Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Disney, Walt Disney, Thomson Locations: New York, U.S, COVID, California, Orlando, Bengaluru
Donald Trump's favored inflation gauge? Bacon.
  + stars: | 2023-09-18 | by ( George Glover | ) www.businessinsider.com   time to read: +3 min
Donald Trump pointed to the rising cost of bacon as evidence for inflation. "Bacon is up five times… food is up horribly, worse than energy," he told NBC Sunday. Sliced bacon prices have actually only risen by about 12% since Trump left office. "Bacon is up five times… food is up horribly, worse than energy," he added. AdvertisementAdvertisementPerhaps the Donald Trump Bacon Index will one day join those two in the pantheon of great food-based economic metrics.
Persons: Donald Trump, Bacon, Trump, NBC's, Kristen Welker, Joe Biden's, hasn't, Donald Trump Bacon Organizations: NBC, Service, Sunday, Bureau of Labor Statistics –, Federal, Republican, Bloomberg, London and Locations: Wall, Silicon, Pret, London, London and New York
Venice entry fee will start next year
  + stars: | 2023-09-06 | by ( Julia Buckley | ) edition.cnn.com   time to read: +6 min
CNN —Venice has finally revealed the details for its entrance fee, making it the first city in the world to charge daytripper visitors. But this isn’t a permanent move yet – the Venice authorities have committed to a 30-day “experiment,” according to mayor Luigi Brugnaro, who shared the news on Twitter/X. Daytrippers over the age of 14 entering the “old city” of Venice – the entirety of the lagoon city – will have to pay. Andrea Merola/Bloomberg/Getty ImagesPreviously, Venturini had announced that the entrance fee – which has been discussed since 2019 – would start in January 2023. Venice may be the first city to introduce a fee, but already one village in Italy has introduced a charge for daytrippers.
Persons: we’ll, Stanley Tucci, CNN —, they’re, Luigi Brugnaro, accesso, , Simone Venturini, , Stefano Mazzola, Michele Zuin, Andrea Merola, Venturini, “ Covid, ” Venturini, it’s Ferragosto, Civita, Bagnoregio, Francesco Bigiotti, Venice’s Organizations: CNN, intel, , Bloomberg, Getty, RAI, UNESCO Locations: CNN — Venice, Venice, Murano, Veneto, Tourism, Italy,
A traffic light system at the entrance to a Tesco supermarket in the English town of Swindon was accidentally switched on for a brief time in August, a spokesperson for the UK’s biggest supermarket group told Reuters, and is not evidence of the company reintroducing social distancing measures, as is being claimed online. We’ve got the old traffic light system back in operation. Perhaps some lockdowns heading our way?” he asks, while stood outside the town’s Extra store (located here: tinyurl.com/y3ek3epd). However, a spokesperson for the supermarket group told Reuters the traffic light system was accidentally switched on for a brief period at the Swindon Tesco Extra in August and that it has not been reintroduced in any of its stores. The traffic light system was briefly and accidentally switched on at the Tesco Extra in Swindon, according to the company, which said the social distancing measure is not being reintroduced in any of its stores.
Persons: We’ve, Read Organizations: Tesco, UK’s, Reuters, Facebook, Swindon Tesco Locations: Swindon, Swindon , Wiltshire
Times Square characters who pose for photos for money walk past an AMC theatre in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File PhotoAug 8 (Reuters) - Movie theater chain AMC Entertainment Holdings (AMC.N) said the current quarter was off to a strong start driven by box-office hits such as "Barbie" and "Oppenheimer", after beating second-quarter revenue estimates on Tuesday. AMC's second-quarter revenue rose 15.6% to $1.35 billion, compared with analysts' estimates of $1.29 billion, according to Refinitiv data. The company reported a profit of 1 cent per share, compared with a loss of 12 cents per share, a year earlier. "AMC's glide path to eventual recovery continued with significant pace in the second quarter of 2023 as our results set new records and represent AMC's strongest second quarter in four full years," Aron said.
Persons: Carlo Allegri, Barbie, Oppenheimer, Adam Aron, AMC's, Aron, Samrhitha, Shounak Dasgupta Organizations: AMC, REUTERS, AMC Entertainment Holdings, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru
Signage on display outside of a Virgin Money store in central London, Britain, July 27, 2021. REUTERS/Henry Nicholls/File PhotoAug 2 (Reuters) - British challenger bank Virgin Money UK (VMUK.L) on Wednesday maintained its full-year outlook and reported stable net interest margin (NIM) in the third quarter despite pressure from its mortgages business. Virgin Money has been restructuring itself as it grapples with a drop in footfall and transaction volumes. Virgin Money said higher interest rates were offset by spread pressure in mortgages and continued deposit migration. The London-listed lender also announced its plans to buyback shares worth 175 million pounds ($159.58 million) in fiscal year 2023 and more in 2024.
Persons: Henry Nicholls, Yadarisa, Rashmi Organizations: Virgin, REUTERS, British, Virgin Money, Thomson Locations: London, Britain, Bengaluru
Virgin Money UK shuts 39 stores over fall in customer demand
  + stars: | 2023-07-20 | by ( ) www.reuters.com   time to read: 1 min
July 20 (Reuters) - British lender Virgin Money UK (VMUK.L) said on Thursday it will close 39 stores as the company continues to see a drop in footfall and transaction volumes. "Access to a bank and cash is a fundamental need for all our local high streets," UK's labour union Unite said in a separate statement about the store closures. Virgin Money UK said that some workers will be at risk of redundancy following the store closures. Reporting by Sinchita Mitra in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Sinchita Mitra, Shounak Dasgupta Organizations: Virgin Money, Thomson Locations: Bengaluru
In previous refugee crises, for example in Syria, refugees' desire to return home has faded with time, UNHCR studies show. Conscription-aged men are restricted from leaving Ukraine, so working-aged women, and children, make up the majority of refugees. Ukraine's population problem goes beyond millions of refugees. A census in 2001 - the country's only so far - recorded a population of 48.5 million. Demographer Libanova estimated the population at between 28 million and 34 million at the start of 2023 in parts of the country controlled by Kyiv.
Persons: Korzh, Volodymyr Kostiuk, Kostiuk, It's, Dmytro Tsygankov, Ella Libanova, Libanova, Ksenia Karpenko, Karpenko, Corina Rodriguez, Catarina Demony, Mike Collett, White, Frank Jack Daniel Our Organizations: United Nations, UNHCR, Kyiv, for Economic Research, Political, for Economic, MEN, National Academy of Science, European Commission's, Research, The, Economic Strategy, Reuters, Thomson Locations: KYIV, Europe, Kyiv, Portugal, Ukraine, Lagoa, Syria, Ukrainian, Moscow, Russia, Crimea, Belarus, Russian, Tarragona, Spain, Madrid, Barcelona, Lisbon
Hong Kong CNN —It’s dusk in Hong Kong Park. On a sweltering summer day in Hong Kong Park, nestled between skyscrapers in the urban center of the Asian metropolis, a yellow-crested cockatoo perches on a branch. Noemi Cassanelli/CNN Yellow-crested cockatoos nest in old trees, typically more than 100 years old, which form cavities in the trunk. Hong Kong, despite its urban sprawl and concrete veneer, is a stronghold for several endangered species, including Chinese pangolins, Hong Kong groupers, and the black-faced spoonbill. (According to the AFCD, it has “not received any report related to poaching of yellow-crested cockatoos in the past three years.”)Extremely picky about where they roost, the yellow-crested cockatoos use cavities that form in the trunks of trees that are typically older than 100 years.
Persons: Hong Kong CNN —, , Astrid Andersson, it’s, , Andersson, Quadrupling, Noemi Cassanelli, Cassanelli, CNN Andersson, CNN There's, they’ve, , Tom Booth, Fox, It’s, , Fiona Woodhouse, Woodhouse, Hong Kong’s, Jovy Chan, Chan, “ They’ve Organizations: CNN, Hong Kong CNN, Press, University of Hong, Timor Leste, International Trade, Fisheries, Conservation Department, CITES, Scottish wildcats, ADM Capital Foundation, Society for, Bird, Cultural Services Department, Facebook, Hong, SPCA HK, WWF Locations: Hong Kong, Swedish, Indonesia, Timor, Australia, University of Hong Kong, Hong, , Mainland China, HKD28,000, Indonesian
CNN —One of the world’s top distance runners, Dominic Lobalu dreams of climbing the podium at the Olympic Games. It means Lobalu is essentially stateless on the global athletics scene, running with no flag and no national colors. In a statement to CNN Sport, Swiss Athletics confirmed that it had applied to the World Athletics Nationality Review Panel for Lobalu to change his allegiance. Founded in 2014, the ART is supported by international governing body World Athletics and composed entirely of athletes who have fled violence, conflict, and injustice. “He cannot change the decision from World Athletics, he can’t make it faster.
Persons: Dominic Lobalu, Lobalu, Valerio Origo, Gallen, Markus Hagmann, , , Geneva –, hasn’t, I’m, ’ ”, coy, Mr, Adam Davy, he’s, Jackie Brock, Doyle, Dominic, Hagmann, ” Hagmann, Jacob Kiplimo, … He’s Organizations: CNN, Olympic, CNN Sport, Swiss Athletics, Athlete, ART, Athletics, Diamond League, World Athletics, Zurich Diamond League, Lobalu, Stockholm Diamond League Locations: Sudan, Kenya, Europe, Paris, Budapest, Switzerland, St, Copenhagen, Nairobi, Lobalu, Swiss, Geneva, South Sudan, London, Chukudum, Vienna, Austria, Lausanne, Gallen, Stockholm
With voters going through a cost-of-living crisis and inflation stubbornly high at about 10%, local council votes in much of England on May 4 give Labour an opportunity to prove their electoral credentials. Swindon has returned lawmakers representing the winning party at every national election since 1983, making it a bellwether and a key target for Labour, who chose the town for the launch of their local election campaign. "Whilst Sunak's personal poll ratings aren't great, they're not toxic in the way that his predecessors have been," he said. David Renard, the Conservative leader of Swindon Borough Council, said the national picture might hinder his attempts to focus the campaign on more local issues. In its town centre, many voters expressed unhappiness with the Conservatives but some had a degree of sympathy for Sunak personally.
UK grocery inflation hits new high of 17.5% -Kantar
  + stars: | 2023-03-28 | by ( James Davey | ) www.reuters.com   time to read: +3 min
SummarySummary Companies Grocery inflation in March at highest level ever recordedMilk, eggs and cheese show fastest price risesShoppers face 837 pounds rise in annual grocery billLONDON, March 28 (Reuters) - British grocery inflation rose again in March to a record 17.5%, inflicting yet more pain on consumers battling a cost-of-living crisis, industry data showed on Tuesday. Market researcher Kantar said prices were rising fastest in markets such as eggs, milk and cheese. "It’s more bad news for the British public, who are experiencing the ninth month of double-digit grocery price inflation," said Fraser McKevitt, Kantar's head of retail and consumer insight. The Kantar data for March provides the most up to date snapshot of UK grocery inflation. It said total grocery sales over the 12 weeks to March 19 rose 8.6%.
After a fire engulfed Notre Dame in 2019, horrified onlookers around the world donated nearly $1 billion to restore the cathedral. Scroll to experience an acoustic simulation of how “Viderunt Omnes” may have sounded from different places inside Notre Dame. In the survey on the acoustic experience of Notre Dame, respondents commented on the building’s unique sound. We may see Notre Dame as an eternal monument, but she hears it as a place that is always changing. When I visited Notre Dame with her, we were accompanied by a young sound engineer, as well as a historian studying metal.
In the United States and Canada, box office collection was above $11 billion in 2019, but since the COVID-19 pandemic, the numbers have fallen drastically, with 2022 box office numbers coming in at $7.4 billion, the company said. "It will take years to see box office revenues return to 2019 levels, which they may not ever do at all," said Jamie Lumley, analyst at Third Bridge. Wedbush Securities analysts expect 2023 box office to be down 24% from 2019 levels. AMC, however, said it expects box office will not return to pre-pandemic norms before 2024 or 2025 at the earliest. Still, AMC said it would pay down its debt of about $4.95 billion as it continued to raise cash.
LONDON, Feb 23 (Reuters) - The proportion of British businesses expecting to raise prices in March fell marginally, adding to signs that price pressures may have peaked, a survey published on Thursday showed. The Office for National Statistics said 25% of trading businesses expected to increase the prices of goods or services they sell over the next month. British consumer price inflation slowed to 10.1% in January, cooling from a 41-year high of 11.1% in October. Nearly half of firms in accommodation and food services intended to hike prices - the highest proportion of all sectors. Of all the firms surveyed over the last two weeks, 35% cited energy costs as the main reason for increasing prices.
Jesper Brodin, CEO of IKEA stores owner Ingka, said visitor numbers and sales volumes were up so far in the group's fiscal year through August 2023. "We are currently seeing growing visitor numbers and growing sales ... It started late spring, summer, and has continued," Brodin said, adding that current trading was better than feared. Some costs such as gas prices have started to decline as well, prompting some retailers to consider price cuts. Brodin said Ingka was currently seeing no signs of weakening demand, or of any of its markets heading towards a deep recession this year.
Shares in Sushiro’s owner, Food & Life Companies Co Ltd, fell 4.8% last Tuesday, as the video circulated. In a statement last Wednesday, Food & Life Companies said it had filed a police report against the customer, alleging damages. Two other leading conveyor belt sushi chains, Kura Sushi and Hamazushi, told CNN that they had experienced similar disruptions. In recent weeks, some Japanese social media users have questioned the role of conveyor belt sushi restaurants as consumers demand more attention to cleanliness. Sushiro, the Japanese sushi chain, is replacing real sushi with photographs of sushi on its conveyor belts.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFootfall at malls in China expected to pick up over the Lunar New Year: Asset management firmGeorge Hongchoy of Link Asset Management, says, however, that many in China are still wary of going out.
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